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Struggling grape growers need interest rate subsides, not loans

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Southern NSW grape growers have called for government assistance in the form of interest rate subsidies rather than loans to repay debt.

Some struggling growers who have gone off farm to earn additional income believe that the farm finance loans are a short term fix according to ABC News.

Chief executive of The Riverina Winegrapes Marketing Board, Brian Simpson, believes that the two year loans of up to $650,000 offered by the federal government are not sustainable in the long term. 

 “The interest rate subsidies were of benefit to our growers and that’s something when it finished a couple of years ago, growers were calling for that to be reintroduced,” he said.

“I think that would be more beneficial, to reduce the payment of interest to growers than giving them more debt.”

Image courtesy of Graham gtall1 via flickr

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